Forex Daily Forecast, Analysis and Prediction

he GBP/USD currency pair rallied as the US dollar index retreated by more than 0.50% after the encouraging Producer Price Index (PPI) report.

The EUR/USD pair rallied to the psychological resistance point at 1.100, its highest point since January 2nd.

It’s easy to see that the US dollar is still flat on its back against the Malaysian ringgit.

The AUD/USD exchange rate continued its strong recovery after a series of important economic data from Australia and the United States.

I recognize that this asset is testing the crucial 200-Day EMA.

I can see this asset is doing everything it can to break out to the upside.

Bitcoin has gone back and forth during the course of the trading session on Tuesday.

The first thing I notice is that the ¥190 level has offered a significant amount of resistance.

At the beginning of this week, the USD/JPY currency pair rose, surpassing the 148.00 resistance level amid thin trading volumes as Japanese markets were closed due to a holiday.

At the start of this week’s trading, gold futures approached an all-time daily high as investors prepare for key US inflation data.

Recently, the EUR/USD exchange rate has consolidated its gains made in early August in recent trading, but it may have room to decisively overcome the nearby resistance around 1.0935 and approach the 1.10 level in the coming days.

For the past five trading sessions, the GBP/USD currency pair has been trying to rebound upwards, but its gains have been capped at 1.2793 before settling around the 1.2760 level at the beginning of trading on Tuesday.

The USD/MXN this morning is testing the key 19.00000 ratio.

As of this writing the USD/ZAR exchange rate is near the 18.21500 ratio with healthy trading being demonstrated.

It’s easy to see that the Australian equities market still has to deal with the idea of external factors.